Business Context and Reporting Period
Company: Spark I Acquisition Corp (SPKL)
Filing Type: Form 8-K (Current Report)
Date of Report: May 14, 2026
Reporting Period: Event date May 14, 2026; Signed May 18, 2026
The Company is a Cayman Islands-based special purpose acquisition company (SPAC) listed on The Nasdaq Stock Market LLC. It is classified as an emerging growth company.
Key Financial Metrics
This filing is a current report regarding a listing deficiency and does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing text does not provide a clear value for any financial metrics.
Material Changes
- Listing Deficiency: On May 14, 2026, the Company received a written notice from Nasdaq indicating non-compliance with Listing Rule 5450(a)(2) (Minimum Total Holders Rule).
- Requirement: The rule requires a minimum of 400 "Total Holders" (beneficial holders and holders of record) for continued listing on the Nasdaq Global Market.
- Current Status: The notice is a notification of deficiency only and has no immediate effect on the listing or trading of the Company's securities.
Outlook, Management Commentary, and Risks
Management Plan: The Company intends to submit a plan to Nasdaq on or before June 29, 2026, to regain compliance.
Timeline:
- 45 Days: Timeframe to submit a compliance plan.
- Up to 180 Days: Potential extension granted by Nasdaq if the plan is accepted to evidence compliance.
Risks and Contingencies:
- Nasdaq may not accept the Company's plan or grant an extension.
- The Company may fail to meet the requirements for continued listing under Nasdaq rules.
- If the plan is not accepted, the Company has the opportunity to appeal the decision before a Nasdaq Hearings Panel.
Forward-Looking Statements: The Company cautions that actual results and timing could differ materially from anticipated outcomes due to risks and uncertainties.
Investor Verification Checklist
- Verify the current number of total holders to assess the severity of the deficiency.
- Monitor the submission of the compliance plan by the June 29, 2026 deadline.
- Review the Company's most recent Form 10-K for detailed risk factors and financial position.
- Watch for updates regarding Nasdaq's acceptance of the plan or any appeal proceedings.